Q64. With reference to the ‘Banks Board Bureau (BBB) which of the following statements is correct?
- The Governor of the Chairman of BBB.
- BBB recommends the selection of a head for Public Sector Banks.
- BBB helps Public Sector Banks develop strategies and capital-raising plans.
Select the correct answer using the code given below:
a) 1 and 2 only
b) 2 and 3 only
c) 1 and 3 only
d) 1, 2 and 3
Answer – B
- The Banks Board Bureau is a self-governing autonomous body of the Central Government. The Central Government notified the amendment to the Nationalised Banks (Management and Miscellaneous Provisions) Scheme, 1980 providing the legal framework for the composition and functions of the Banks Board Bureau on March 23, 2016. The Bureau accordingly started functioning from April 01, 2016, as an autonomous recommendatory body.
- Statement 1 is incorrect: Banks Board Bureau comprises the Chairman, three ex-officio members i.e. Secretary, Department of Public Enterprises, Secretary of the Department of Financial Services, and Deputy Governor of the Reserve Bank of India, and five expert members, two of whom are from the private sector. The Chairman is selected by the central government and the RBI governor does not head it.
- Statements 2 and 3 are correct: Banks Board The bureau recommends the selection of heads for Public Sector Banks and other key personnel if required. It also develops strategies for raising capital and improving the performance of PSBs
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